UBA to pay interim dividend from H1 profits
Nigeria’s United Bank for Africa (UBA) Plc on Friday said it will pay interim dividends from profits made in the first half of 2020 to its shareholders.
The bank in a regulatory filing to the Nigerian Stock Exchange (NSE) said the board of the lender has approved the payment of an interim dividend from its half year earnings subjected to the approval of the Central Bank of Nigeria (CBN).
However, the bank did not disclose the details of the half-year financial account as it must first submit the account to the CBN for regulatory scrutiny and approval before publishing the details.
The lender said; “the Nigerian Stock Exchange and the investing public would be immediately notified upon receipt of the 2020 Audited Half Year Results & Reports by the Central Bank of Nigeria.”
UBA had announced to investors on July 28, that its board of directors will meet on August 13, 2020, to consider the lender’s audited account for the first six months of the year.
Prior to the announcement of the board meeting and embargo on trading in the shares of the bank, two major directors of the bank had mopped up a total of 74.82 million shares of the bank worth N460.58 million in four consecutive trading day. on the floor of the Exchange.
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Tony Elumelu, the lender board chairman and Heirs Holdings both holding majority shares in the financial institution increased their stake in the bank by acquiring a total of 71.82 million shares worth N442.43 million.
Elumelu and Heirs on July 20, bought a total of 62.643,500 shares at N6.20 per share and on July 21, bought additional 6,980,427 shares are N6.15 per share while on July 22, the two major interest bought a total of 2,199,373 shares at N6.12 per share on the floor of the Exchange.
Also, Ayoku Liadi, who was recently appointed deputy managing director of the bank in charge of Nigeria also bought three million shares of the bank worth N18.15 million on July 15.
All the purchases were, however, done before the embargoed placed on the transaction and meeting of the board to consider the audited interim report for the half year 2020.
Prior to the transactions, Elumelu and his allied interest held a total of about 2.30 billion shares in the bank.